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Article: Inflation, taxes, and optimal inventory policies

TitleInflation, taxes, and optimal inventory policies
Authors
Issue Date1985
Citation
Journal Of Accounting Research, 1985, v. 23 n. 1, p. 57-83 How to Cite?
AbstractThis study employs an alternative stochastic model which offers important advantages over those proposed by Cohen and Pekelman, and Biddle and Martin. Rather than optimizing with respect to a single order-up-to level determined at the start of each year, the model permits a second order at year-end. This achieves greater descriptive validity by allowing intrayear (as well as interyear) cost changes and additional purchases after demand has been assessed. More important, there is a greater sensitivity to the effects of tax incentives on year-end procurement decisions and a smaller likelihood of year-end stockouts (which unrealistically affect tax incentives by drastically altering inventory cost structures). As a result, the model is uniquely suited for an examination of optimal choices among alternative inventory costing methods and the optimal ordering policies under each. In this study we extend the model to include not only LIFO and FIFO but also AC, a method not previously considered in order quantity models.
Persistent Identifierhttp://hdl.handle.net/10722/129002
ISSN
2015 Impact Factor: 2.243
2015 SCImago Journal Rankings: 5.733
SSRN
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorBiddle, GCen_US
dc.contributor.authorMartin, RKen_US
dc.date.accessioned2010-12-09T03:05:32Z-
dc.date.available2010-12-09T03:05:32Z-
dc.date.issued1985en_US
dc.identifier.citationJournal Of Accounting Research, 1985, v. 23 n. 1, p. 57-83en_US
dc.identifier.issn0021-8456en_US
dc.identifier.urihttp://hdl.handle.net/10722/129002-
dc.description.abstractThis study employs an alternative stochastic model which offers important advantages over those proposed by Cohen and Pekelman, and Biddle and Martin. Rather than optimizing with respect to a single order-up-to level determined at the start of each year, the model permits a second order at year-end. This achieves greater descriptive validity by allowing intrayear (as well as interyear) cost changes and additional purchases after demand has been assessed. More important, there is a greater sensitivity to the effects of tax incentives on year-end procurement decisions and a smaller likelihood of year-end stockouts (which unrealistically affect tax incentives by drastically altering inventory cost structures). As a result, the model is uniquely suited for an examination of optimal choices among alternative inventory costing methods and the optimal ordering policies under each. In this study we extend the model to include not only LIFO and FIFO but also AC, a method not previously considered in order quantity models.-
dc.languageengen_US
dc.relation.ispartofJournal Of Accounting Researchen_US
dc.titleInflation, taxes, and optimal inventory policiesen_US
dc.typeArticleen_US
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0021-8456&volume=23&spage=57&epage=&date=1985&atitle=INFLATION,+TAXES,+AND+OPTIMAL+INVENTORY+POLICIESen_US
dc.identifier.emailBiddle, GC:biddle@hku.hken_US
dc.identifier.authorityBiddle, GC=rp00230en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.2307/2490907-
dc.relation.referenceshttp://apps.isiknowledge.com/CitedRefList.do?product=WOS&search_mode=CitedRefList&db_id=WOS&UT=A1985ANM8700004en_US
dc.identifier.volume23en_US
dc.identifier.issue1en_US
dc.identifier.spage57en_US
dc.identifier.epage83en_US
dc.identifier.isiWOS:A1985ANM8700004en_US
dc.identifier.ssrn1679640-

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